Hong Kong investment Banking Salaries
Welcome to the 2016 Banking & Financial Services Salary Guide which provides salary ranges for professionals in Hong Kong within Asset Management, Operations, Hedge Fund & Private Equity, Investment Banking & Capital Markets and Private Banking.
Asset Management Salary Ranges
There is significant growth potential within Asia’s asset management industry, and overall we expect the sector to experience significant growth in 2016. There is continuing appetite from regional institutional clients to diversify their investment portfolio in both traditional and alternative asset classes, and there is huge potential within the retail market as well due to MRF (mutual recognition of funds) in Hong Kong and ASEAN Passport in South East Asia.
MRF, allows funds established in Hong Kong to be accessible to Mainland China investors and vice versa. This is significant as it will allow Chinese investors access to international markets, which was only previously possible for a small proportion of the population. With a new generation of well educated middle class Chinese generating wealth, the Chinese asset management industry should surpass the markets in Japan and Australia, given time.
Several hundred asset managers have applied to the Hong Kong regulator for MRF status, and we expect continued appetite for Asset Management professionals in Hong Kong. Institutional salespeople have been highly sought-after and there has been significant movement of these professionals, particularly in north Asia in 2015. In addition, there has also been movement in other positions such as product development over the course of the year. Overall it has been a busy 12 months.
Local language skills are in many cases essential in client facing asset management roles in Hong Kong, as the core markets covered in North Asia are greater China and Taiwan. Internal mobility from locations such as New York or London in these positions can be challenging, unless it is for leadership positions. In non-sales roles, local language skills are less important. Local market knowledge is desired in most cases. Candidates with client contacts and experience in regional markets, such as China, Korea and Taiwan are sought after. Opportunities for relocation to Asia for senior positions are becoming less prevalent, as there is a preference for locals with the right language skills, and cross cultural understanding. Permanent roles dominate the landscape, as operations are generally lean. It is therefore rare to see professionals contracting unless it is for technology based projects.
We expect salaries in infrastructure roles to experience incremental growth of 5% in 2016, or potentially 5-%-10% for the top performers. Within front office, many roles are benchmarked, and pay levels are comparatively similar across the market.
|BASIC SALARIES (HK$ PER MONTH)|
|Fund Manager||$45k - $55k||$55k - $70k||$70k - $95k||$120k - $200k||$250k+|
|Research Analyst||$30k - $45k||$45k - $60k||$63k - $83k||$92k - $150k||$180k+|
|Retail / Institutional Marketing||$15k - $25k||$25k - $45k||$45k - $65k||$65k - $90k||$150k+|
|RFP Writer / Investment Writer||$20k - $30k||$50k - $70k||$70k - $100k||$100k+|
|Performance Analyst||$40k - $50k||$50k - $85k||$100k - $120k|
|Retail/ Intermediary Sales||$25k - $50k||$35k - $80k||$60k - $120k||$80k - $150k|
|Institutional Sales||$60k - $150k||$100k - $200k||$200k+|
|Client Relationship / Acc. Management||$17k - $25k||$45k - $70k|
|Execution Trader / Dealer||$30k - $50k||$70k - $120k|
|Product Development / Management||$70k - $150k|
|Product Specialist||$65k - $92k||$95k - $150k|